iRobot Corp. (IRBT) Sets New 52-Week High on Analyst Upgrade
iRobot Corp. (NASDAQ:IRBT)’s share price hit a new 52-week high during mid-day trading on Monday after Benchmark raised their price target on the stock from $46.00 to $52.00. Benchmark currently has a buy rating on the stock. iRobot Corp. traded as high as $45.10 and last traded at $44.39, with a volume of 299,771 shares trading hands. The stock had previously closed at $43.33.
Several other brokerages have also recently issued reports on IRBT. Needham & Company LLC reiterated a “buy” rating and set a $46.00 price target (up previously from $42.00) on shares of iRobot Corp. in a research report on Friday, September 16th. Canaccord Genuity restated a “buy” rating and issued a $45.00 price objective on shares of iRobot Corp. in a report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $39.88.
In other news, EVP Glen Daniel Weinstein sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $40.00, for a total value of $40,000.00. Following the transaction, the executive vice president now owns 70,481 shares in the company, valued at $2,819,240. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Alison Dean sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $43.42, for a total transaction of $477,620.00. Following the completion of the transaction, the chief financial officer now owns 84,045 shares in the company, valued at approximately $3,649,233.90. The disclosure for this sale can be found here. 5.53% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Prudential Financial Inc. increased its position in shares of iRobot Corp. by 2.4% in the first quarter. Prudential Financial Inc. now owns 69,676 shares of the company’s stock valued at $2,460,000 after buying an additional 1,600 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of iRobot Corp. by 6.9% in the second quarter. BNP Paribas Arbitrage SA now owns 27,948 shares of the company’s stock valued at $980,000 after buying an additional 1,807 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of iRobot Corp. by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 167,476 shares of the company’s stock valued at $5,875,000 after buying an additional 1,784 shares in the last quarter. First National Bank of Omaha bought a new position in shares of iRobot Corp. during the second quarter worth $517,000. Finally, Oxford Asset Management bought a new position in shares of iRobot Corp. during the second quarter worth $1,059,000. Hedge funds and other institutional investors own 77.47% of the company’s stock.
The firm’s 50-day moving average price is $41.96 and its 200 day moving average price is $38.44. The company has a market cap of $1.22 billion, a P/E ratio of 32.31 and a beta of 1.59.
iRobot Corp. (NASDAQ:IRBT) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.07. iRobot Corp. had a net margin of 6.49% and a return on equity of 10.39%. The company earned $148.70 million during the quarter, compared to analyst estimates of $148.10 million. During the same quarter last year, the business posted $0.24 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. Analysts expect that iRobot Corp. will post $1.32 EPS for the current year.
About iRobot Corp.
iRobot Corporation is engaged in designing and building robots. The Company’s portfolio of solutions focus on technologies for the connected home and concepts in navigation, mobility, mapping and artificial intelligence. The Company operates through consumer robots segment. It designs robots for the consumer, telemedicine and mobile video collaboration markets.
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